| |
|
|
GROUP |
| |
|
|
2011
Rm |
|
|
2010
Rm |
| 22. |
Debt |
|
|
|
|
|
| 22.1 |
Long-term debt |
|
|
|
|
|
| |
Finance leases |
|
106.1 |
|
|
133.1 |
| |
Secured loans in respect of leased vehicles with a carrying value of R108.8 million (2010: R122.1 million) (note 9) held under finance lease agreements bearing interest at prime bank rate less 2% and payable monthly in arrears over a 4-year period. At the end of the lease period the Group has the option to refinance the lease or settle the lease and take ownership of the asset. Lease agreements do not contain any escalation or penalty clauses. |
|
|
|
|
|
| |
Other debt |
|
571.0 |
|
|
576.4 |
| |
Secured loan in respect of property with a book value of R75.7 million (2010: R79.1 million) (note 9) bearing interest at a fixed rate of 11.4% and payable monthly in arrears over a 15-year period, ending on 28 October 2018. |
|
71.0 |
|
|
76.4 |
| |
Secured loan raised to fund property development. The loan is secured by property with a book value of R595.6 million (2010: R557.3 million) (note 9) bearing interest at a fixed rate of 8.8%. Interest is payable six months in arrears. The capital is repayable on 29 June 2012. |
|
250.0 |
|
|
250.0 |
| |
Unsecured loan raised to fund property development. The loan bears interest at a fixed rate of 9.6%. Interest is payable six months in arrears. The capital is repayable on 1 June 2012. |
|
250.0 |
|
|
250.0 |
 |
|
|
|
|
|
|
| |
Total debt at 28 February |
|
677.1 |
|
|
709.5 |
| |
Less: Short-term debt (repayable within one year) |
|
(50.2) |
|
|
(38.7) |
| |
Long-term debt (repayable after one year) |
|
626.9 |
|
|
670.8 |
| |
At 28 February, finance lease rentals are payable as follows: |
|
|
|
|
|
| |
Within 1 year |
|
|
|
|
|
| |
Capital repayments |
|
44.0 |
|
|
33.2 |
| |
Interest |
|
6.6 |
|
|
12.0 |
| |
Cash flows |
|
50.6 |
|
|
45.2 |
| |
Within 2 to 5 years |
|
|
|
|
|
| |
Capital repayments |
|
62.1 |
|
|
99.9 |
| |
Interest |
|
4.4 |
|
|
14.9 |
| |
Cash flows |
|
66.5 |
|
|
114.8 |
| |
Total cash flows |
|
117.1 |
|
|
160.0 |
| |
|
|
|
|
|
|
| |
Comprising: |
|
|
|
|
|
| |
Capital |
|
106.1 |
|
|
133.1 |
| |
Interest |
|
11.0 |
|
|
26.9 |
|
|
|
|
|
|
|
